VC Firm Microtraction Closes First Community Fund At USD 15 Mn

Microtraction, a Lagos-based early-stage venture capital firm, has raised USD 15 Mn for the first close of its community fund, which will invest in pre-seed stage startups across Africa. Microtraction intends to use this money to make first-round investments in at least 60 African entrepreneurs.

The venture capital firm’s portfolio includes fintech, health tech, SaaS, edtech, crypto, gaming, and mobility. It has invested in 36 startups with 83 founders across two funds in Nigeria, Ghana, Kenya, and Rwanda.